Barnes & Noble has reached an agreement with Pearson to buy out the publisher’s stake in Nook Media for $13.7 million in cash, plus 602,927 shares of B&N common stock.

The deal is similar to the one B&N struck with Microsoft earlier this year when it bought back the computer giant’s preferred shares in Nook Media. At the time of the Microsoft deal, it was expected that B&N would reach a similar agreement with Pearson.

Pearson paid $89 million in December 2012 for a 5% stake in Nook Media, which is comprised of Nook digital hardware and content assets plus the B&N college stores. In its filing Tuesday morning with the Security and Exchange Commission, B&N said the deal with Pearson further simplifies Nook’s corporate structure by giving B&N 100% ownership of the unit. By removing the involvement of Microsoft and Pearson, B&N believes it will be easier to proceed with some sort of separation of the Nook Media from the rest of B&N. B&N executives have said splitting the retail trade stores away from Nook Media could come by next August.